World Wrestling Entertainment, Inc. (NYSE:WWE) – KeyCorp raised their Q2 2018 earnings per share (EPS) estimates for World Wrestling Entertainment in a research note issued to investors on Sunday. KeyCorp analyst E. Wingren now anticipates that the company will post earnings per share of $0.22 for the quarter, up from their prior forecast of $0.13. KeyCorp has a “Overweight” rating and a $48.00 price objective on the stock. KeyCorp also issued estimates for World Wrestling Entertainment’s Q3 2018 earnings at $0.36 EPS, Q4 2018 earnings at $0.43 EPS, FY2018 earnings at $1.16 EPS, Q2 2019 earnings at $0.29 EPS, Q4 2019 earnings at $0.47 EPS, FY2019 earnings at $1.32 EPS and FY2020 earnings at $2.05 EPS.
Several other analysts also recently weighed in on the stock. MKM Partners reaffirmed a “buy” rating and issued a $44.00 target price (up previously from $41.00) on shares of World Wrestling Entertainment in a report on Tuesday. Zacks Investment Research downgraded shares of World Wrestling Entertainment from a “buy” rating to a “hold” rating in a report on Saturday. Benchmark reaffirmed a “buy” rating and issued a $40.00 target price (up previously from $28.00) on shares of World Wrestling Entertainment in a report on Friday, February 9th. Morgan Stanley raised shares of World Wrestling Entertainment from an “equal weight” rating to an “overweight” rating and set a $23.00 target price on the stock in a report on Tuesday, January 30th. Finally, Needham & Company LLC lifted their target price on shares of World Wrestling Entertainment from $25.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, January 24th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $37.89.
World Wrestling Entertainment (NYSE:WWE) last posted its quarterly earnings data on Thursday, February 8th. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.01. The company had revenue of $211.60 million for the quarter, compared to analyst estimates of $208.51 million. World Wrestling Entertainment had a net margin of 4.07% and a return on equity of 20.50%. World Wrestling Entertainment’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.10 earnings per share.
A number of hedge funds have recently added to or reduced their stakes in WWE. Cubist Systematic Strategies LLC purchased a new stake in World Wrestling Entertainment during the third quarter worth about $176,000. LS Investment Advisors LLC boosted its holdings in World Wrestling Entertainment by 31.6% during the fourth quarter. LS Investment Advisors LLC now owns 6,296 shares of the company’s stock worth $193,000 after buying an additional 1,512 shares in the last quarter. Piedmont Investment Advisors LLC purchased a new stake in World Wrestling Entertainment during the third quarter worth about $201,000. FDx Advisors Inc. purchased a new stake in World Wrestling Entertainment during the third quarter worth about $219,000. Finally, Summit Securities Group LLC purchased a new stake in World Wrestling Entertainment during the third quarter worth about $236,000. 49.59% of the stock is currently owned by hedge funds and other institutional investors.
In related news, SVP Blake Timothy Bilstad sold 1,419 shares of the business’s stock in a transaction dated Sunday, February 11th. The shares were sold at an average price of $35.53, for a total transaction of $50,417.07. Following the sale, the senior vice president now owns 24,121 shares of the company’s stock, valued at $857,019.13. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Vincent K. Mcmahon sold 3,340,000 shares of the business’s stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $28.68, for a total transaction of $95,791,200.00. Following the sale, the chief executive officer now directly owns 3,340,000 shares in the company, valued at approximately $95,791,200. The disclosure for this sale can be found here. 49.80% of the stock is currently owned by insiders.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 26th. Investors of record on Thursday, March 15th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date of this dividend is Wednesday, March 14th. World Wrestling Entertainment’s dividend payout ratio is currently 117.08%.
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World Wrestling Entertainment Company Profile
World Wrestling Entertainment, Inc (WWE) is an integrated media and entertainment company. The Company’s segments are Network, Television, Home Entertainment, Digital Media, Live Events, Licensing, Venue Merchandise, WWEShop, WWE Studios, and Corporate and Other. The Company is engaged in the production and distribution of content through various channels, including its WWE Network, television rights agreements, pay-per-view event programming, live events, feature films, licensing of various WWE themed products, and the sale of consumer products featuring its brands.
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